“This launch is right on time, especially at the beginning of the Indonesian G20 Presidency meeting,” Head of the Fiscal Policy Agency of the Ministry of Finance, Febrio Kacaribu, stated at the soft launch of Indonesia’s ETM Country Platform in Nusa Dua, Bali, on Friday.
According to Kacaribu, the ETM launch offered an important momentum to encourage all members and other countries to fulfill their climate financing commitments with real and plausible initiatives.
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The country platform will accommodate the holistic approach needed for implementing ETM as well as serve as a framework that provides the financing needs to accelerate the national energy transition by mobilizing funds from public and private sources in a sustainable manner, he stated.
This platform and other related mechanisms will be derived from the broader policy framework on an equitable energy transition to achieve the National Determined Contributions (NDC) and Net-Zero Emissions (NZE) targets.
The country platform also welcomes the involvement of all investors, including the ADB, the World Bank, the Indonesia National Authority (INA), the Glasgow Financial Alliance for Net Zero (GFANZ), as well as other multilateral development banks, countries, private sector, and philanthropy.
He remarked that the ETM country platform was a model that other countries can emulate. To ensure its effectiveness, the ETM country platform can be adapted on the basis of the local context and needs of each country in accordance with its specifications, priorities, and regulations.
Indonesia’s country platform investment sources will come from mixed financing through PT SMI, including philanthropists, bilateral or multilateral development agencies, and climate finance institutions. Some sources of financing also come from GFANZ and SDG Indonesia One (SIO).
“The ETM Country platform will be one of the real deliverables in the Indonesian Presidency in G20. Our country will continue to be an example for other countries to implement the same commitment at the regional and global scale,” he stated.
(WAH)
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